PUNE: The Board of Directors of HDFC Bank has approved the sale of a 100 percent stake in HDFC Edu to Vama Sundari Investments (Delhi) Private Limited, an HCL Group Company.

This proposed divestment is under the direction of the Reserve Bank of India (“RBI”) following the merger of erstwhile HDFC Limited with HDFC Bank Limited in July 2023.

HDFC Edu was established with a vision and a commitment to making a meaningful impact on school systems nationwide through its professional services and support.

The proposed divestment of HDFC Bank’s shareholding in HDFC Edu will not change or shift HDFC Edu’s commitment to enhancing quality school education. HDFC Edu will continue to work on its mission under the ownership of HCL Group. HCL Group is known for its strategic investments, innovation, and an experienced leadership team that consistently delivers outstanding educational outcomes. Its founder, Mr Shiv Nadar is a philanthropist who established the Shiv Nadar Foundation that runs VidyaGyan Schools, Shiv Nadar Schools, and Shiv Nadar Universities. Over the years, these institutions have established a reputation for innovation, quality education, and excellence. HCL Group’s reputation and principles align with the vision and mandate under which erstwhile HDFC Ltd set up HDFC Edu.

V.S. Rangan, Executive Director, of HDFC Bank, said, “This divestment has been necessitated due to regulatory requirements for HDFC Bank. The divestment of HDFC Edu went through a long, comprehensive process involving scrutiny of potential acquirers based on a set of eligibility criteria such as financial health, relevant experience, etc., and alignment with the core educational values cultivated over the past decade by HDFC Edu. We are confident that HCL Group will uphold the exceptional standards of services that HDFC Edu has been providing to the HDFC Schools, providing a nurturing and academically rigorous environment for the students.”

In his comments, Shikhar Malhotra, Director, of HCL Corporation and Trustee, of Shiv Nadar Foundation said, “With a legacy of three decades in education, HCL Group has a vision of establishing and nurturing educational institutions of excellence countrywide. We are delighted to be entrusted with the responsibility of upholding and enhancing the educational mandate of HDFC Edu. Our foremost commitment is to ensure continuity and stability for students, parents, and faculty. We will further nurture and grow an already thriving educational environment bequeathed to us while preserving the core values and educational excellence that define The HDFC Schools.”

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INDIA: Godrej Security Solutions, a business unit of Godrej & Boyce, proudly announces its strategic collaboration with HDFC Bank to fortify the maiden private banking branch in Kavaratti, Lakshadweep. This landmark partnership not only ensures comprehensive asset protection but also heralds a new chapter of trust, security, and financial inclusivity in the picturesque archipelago, poised as one of India’s premier tourism destinations.

Pushkar Gokhale, Executive Vice President & Business Head of Godrej Security Solutions, emphasized the significance of this collaboration, stating, “Our partnership with HDFC Bank to establish a secure foothold in Lakshadweep exemplifies our steadfast commitment to supporting the government’s vision for the comprehensive development of the island. This initiative underscores our pledge to fostering prosperity and security in remote locality, thus laying the foundation for holistic growth and development. As we embark on this journey into Lakshadweep, this alliance symbolizes a collective stride towards a future where secure and dependable financial services are accessible to all, transcending geographical boundaries.”

The synergy between Godrej Security Solutions and HDFC Bank signifies a visionary stride toward securing business endeavors in Lakshadweep Island. Leveraging its mastery in tailored security solutions, Godrej Security Solutions equipped the Kavaratti branch with a comprehensive array of state-of-the-art security apparatus, ranging from cash and gold safes to formidable strong room doors. This holistic security blueprint not only mitigates risks but also underscores the mutual pursuit of innovation and excellence, especially in remote banking environments.

Godrej Security Solutions is the preferred partner for leading banks in India with its solutions installed in leading banks across India. The brand provides a range of products under premises security solutions as well which includes Hydraulic Bollards, X-ray Baggage Inspection Systems, Vehicle Surveillance Scanners, Flap Barriers, Turnstiles, DFMDs, HHMDs, and Boom Barriers. Godrej Security Solutions played a crucial role in fortifying the safety and security aspects of the recently inaugurated Mumbai Trans Harbour Link (MTHL) along with other projects under smart cities.

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MUMBAI: HDFC Asset Management Co. Ltd., the investment manager of HDFC Mutual Fund (HDFC MF) announces the launch of HDFC Manufacturing Fund. This open-ended equity scheme aims to unlock the potential of India’s manufacturing sector by investing predominantly in equity and equity-related securities of companies engaged in manufacturing activities. The NFO for HDFC Manufacturing Fund commences on April 26, 2024, and concludes on May 10, 2024.

India’s manufacturing sector stands at the cusp of an Amrit Kaal, a golden era, fuelled by various factors such as growing consumption, investments, and exports, coupled with changing geopolitical dynamics and the government’s push for self-reliance through reforms and incentives. The fund seeks to capitalize on these tailwinds, offering investors an opportunity to participate in the country’s transformation into a global manufacturing powerhouse.

HDFC Manufacturing Fund’s investment strategy emphasizes a core portfolio comprising at least 80% investment in stocks representing diverse sectors under the Manufacturing theme. The fund’s flexible approach allows for investments across market capitalization, offering investors exposure to a wide range of opportunities within the manufacturing landscape.

Navneet Munot, Managing Director and Chief Executive Officer of HDFC Asset Management Company Limited said, “We are delighted to introduce the HDFC Manufacturing Fund to our investors. At HDFC Mutual Fund, we have always endeavored to be a one-stop solution for varied financial goals and have delivered a wide array of opportunities through our diverse product bouquet. HDFC Manufacturing Fund becomes the latest addition to our diverse set of offerings.“

The scheme will be managed by Rakesh Sethia, Fund Manager of HDFC Manufacturing Fund, with over 19 years of experience in equity research said, “Our investment style revolves around rigorous bottom-up research aimed at identifying companies with a compelling long-term growth story. We seek to construct a portfolio that balances established industry leaders with emerging disruptors, ensuring a diverse mix of opportunities within the manufacturing sector.“

Investors can expect the fund to target both established industry leaders and emerging disruptors, aiming at a balanced portfolio with the potential for sustained growth. The fund’s investment objective is to provide long-term capital appreciation by identifying companies poised to benefit from India’s manufacturing resurgence.

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HDFC ELSS Tax saver follows a research-driven investment process ably supported by an experienced in-house research team covering over 400 stocks. The Fund’s investment philosophy revolves around investing for the long term in quality companies at reasonable valuations. The fund invests in fundamentally strong companies with growth drivers in the medium to long term and those that are competitively placed in an industry with good prospects.

Diversification across sectors and themes, coupled with a sharp focus on company fundamentals and valuations, are the key pillars of the fund’s strategy to sustainably create wealth through a disciplined and scalable process. Investing ₹10,000 in HDFC ELSS Tax saver on March 31, 1996, would have grown to ₹28,99,345 as of February 29, 2024, at a CAGR of 22.50%.^ Investors can opt for lump-sum investments or SIPs, starting as low as ₹500 per month. This offers ample flexibility to investors.

Roshi Jain, Senior Fund Manager commented, “HDFC ELSS Tax saver underscores a combination of disciplined equity investing and HDFC AMC’s unwavering commitment to delivering long-term value to investors. With a track record of almost 28 years, the journey not only highlights the potential of tax-saving investments for wealth creation but also reaffirms our dedication to our fundamentals-based investment philosophy”

Navneet Munot, MD & CEO of HDFC AMC, said, “Sound Investment + Time + Patience has been the time-tested principle for wealth creation in equities. HDFC ELSS Tax saver, with a track record of almost 28 years bears testimony to this. The benefit of tax saving, in addition to the potential for wealth creation and a diversified portfolio, makes this fund a smart investment choice; and it is truly a key spoke in the wheel of our mission to be the wealth creator for every Indian.”

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The expansion of HDFC Mutual Fund‘s branch network positions the company as one of the most accessible wealth creators in the country. The move underscores the company’s mission to be the wealth creator for every Indian and highlights its unwavering dedication to extending financial opportunities to investors across the length and breadth of the country, aligning seamlessly with SEBI’s broader objective of financial inclusivity.

HDFC AMC’s initiative aims to ensure the participation of the masses in India’s growth story through mutual funds. Presently, HDFC AMC operates through an extensive network of over 200 branches. The strategic establishment of branches at new locations is aimed at making mutual funds more accessible across the length and breadth of the vast country.

Navneet Munot, MD & CEO, HDFC AMC Ltd., spoke on the occasion, “Our mission at HDFC Mutual Fund is to become the wealth creator for every Indian. This expansion of our branch network aims to make mutual funds more accessible across the length and breadth of our vast country. We want to enable the masses to participate in India’s growth story, and HDFC Mutual Fund, with a time-tested investment philosophy, a wide array of offerings across asset classes, and catering to diverse financial goals, aims to provide investors viable investment solutions.“

HDFC Asset Management Company Limited (HDFC AMC) is an Investment Manager for HDFC Mutual Fund, one of the largest mutual funds in the country. It manages a diversified asset class mix across Equity, Hybrid, and Fixed Income. It also has a countrywide network of 252 branches along with a diversified distribution network comprising Banks, Mutual Fund Distributors, and National Distributors.

HDFC Mutual Fund‘s expansion with 24 new branches across India is a strategic move aimed at increasing the penetration of mutual funds in India and reinforcing the company’s commitment to financial inclusivity. The move positions HDFC Mutual Fund as one of the most accessible wealth creators in the country, aligning seamlessly with SEBI’s broader objective of financial inclusivity.

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